Iran produced 4.156m bpd of crude oil in 2018: BP

June 12, 2019

TEHRAN– Major multinational oil and gas company British Petroleum (BP), in its latest world energy report called “BP Statistical Review of World Energy”, has put Iran’s crude oil production at 4.156 million barrels per day (bpd) in 2018.

Based on the review, Iran's crude oil and condensate output fell seven percent in 2018 compared to the preceding year’s 4.471 million bpd, Tasnim reported on Wednesday.

Iran accounted for five percent of total world oil production in 2018, while it held nine percent of the world’s proven crude oil resources and 16.2 percent of the global gas resources were reported to also lay in Iran. 

According to the report, Iran's oil reserves at the end of 2018 stood at 155.6 billion barrels. This figure has not changed since last year. 

The country’s proven gas reserves at the end of 2018 reported to be 31.9 trillion cubic meters, which did not increase or decrease compared to the previous year.

Iran’s refineries output also grew by 2.9 percent in 2018 to 2.026 barrels a day.

The year before, the figure was announced to be 1.968 bpd. Iran's share of the world's total oil refining stood at 2.4 percent in 2018.

Based on the data provided by BP, in 2018, Iran produced 239.5 billion cubic meters of gas, equivalent to 6.2 percent of the total global gas production. 

In 2017, the country produced 220.2 billion cubic meters of gas, which shows Iran's gas production in 2018 grew 8.8 percent year-on-year.

British Petroleum put Iran's total gas exports in 2018 at 12.1 billion cubic meters, of which 7.6 billion cubic meters was exported to Turkey and 4.1 billion cubic meters was sold to Iraq.

EF/MA

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